Question
You are acting for a vendor of real estate in NSW. The vendor has told you that she is concerned that certain outbuildings erected upon
You are acting for a vendor of real estate in NSW. The vendor has told you that she is concerned that certain outbuildings erected upon the property may not have been approved by the local council. You ascertain that there is no survey or building certificate held by the vendor. Is it legally necessary (as opposed to best practice) to afford protection to the vendor, to insert a special condition in the standard contract for sale approved by the Law Society of NSW and the Real Estate Institute of NSW?
Which of the following answers best describes the response you should provide? Select one answer only.
Group of answer choices
A.Yes, because the standard contract does not have a warning in relation to this issue.
B.No, this is a quality issue, and accordingly the law provides that the purchaser must take the property as it is.
C.Yes, because the standard contract makes no provision in relation to quality issues.
D.Yes, so as to properly disclose and overcome the implied warranties under the Vendor Disclosure legislation.
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